Seattle City Council OKs arena dealPosted by Inside Hoops
A wealthy hedge-fund manager won approval Monday for his plan to bring professional men’s basketball and hockey back to Seattle, with initially skeptical City Council members agreeing to put up $200 million for a new arena after he promised to personally guarantee the city’s debt.
Council members voted 6-2 to approve Chris Hansen’s plan for a $490 million arena near the Seahawks and Mariners stadiums south of downtown.
“I was a skeptic when this came forward because I was worried about our taxpayers,” said Councilwoman Sally Bagshaw. “The fact that we have a personal guarantee from Mr. Hansen … that makes a big difference.
“At the end, we’re going to have something the city is proud of.”
– Reported by the Associated Press